Ghana-based Jetstream raises $3m to build tech solutions for Africa’s trade

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    • AvatarEbigide Jude
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      Ghana’s Jetstream has closed a $3 million seed round as it aims to build digital infrastructure for Africa’s trade corridors. Local and international investors that participated include Alitheia IDF, Golden Palm Investments, 4DX Ventures, Lightspeed Venture Partners, Asia Pacific Land, Breyer Labs, and MSA Capital.

      Previously, the company received pre-seed funding from Hustle Fund in San Francisco and C5 Capital in London through the PeaceTech accelerator. It also participated in this year’s Catalyst Fund Inclusive Fintech Program cohort, where it was the only Ghanaian startup. Ingressive Capital also lists the company in its portfolio.

      Founded in 2018 by CEO Miishe Addy and COO Solomon Torgbo, the company wants to enable African businesses to see and control their cross-border supply chains. It uses technology to make the movement of cargo across borders clear and simple.

      Jetstream was initially started as a logistics company for cosmetics manufacturers in South Africa. They consolidated airfreight shipments of finished shea and other products and sent them to the United States for distribution.

      But the founders quickly realized that the biggest problems in distribution were occurring further up in the supply chain, in places like Northern and Eastern Ghana. From these locations, millions of smallholder farmers and SME processors produce ingredients that make their way through long and complex supply chains to markets like the US, South Africa, and Europe.

      Source: https://techpoint.africa

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